New cryptocurrency the “Petro”

[YuginKadoya]

I myself had enough of an Initial coin offering that is centralized and that is Petro's greatest weakness and that because the government had a control over them, But even though it is backed down by the country's oil and mineral reserves I am not into a cryptocurrency that is fully controlled by the government, But I may be wrong with my decision and will surely wait for a lot of years the price might make it big in the future then it can be a good investment, Well this is just my assumption regarding Petro.

[Quidat]

I just visited their old ICO thread and yes there's a lot of people debating about their government and telling that Petro is really a scam coins and it has no value after all because of the conflict on that country.

https://bitcointalk.org/index.php?topic=3006037.0

I doubt it will get listed in CMC after reading all of those reviews.

It's a waste of money if EVER someone has to invest on it.

[karsy]

I heard that this coin is tradable only for their citizens. And the exchange will be launched later where the token will be listed.

[kryptqnick]

Petro has been around for a while and had a lot of bad publicity. There are some shady goings on with it and the president of Venezuela. I wouldn't even touch the Venezuelan fiat country given their monetary policy shortcomings, so I won't touch their crypto with a barge pole.

i agree. also, we don't even know if they have real collaboration with the government or maybe marketing propaganda only. we don't know the truth behind such coin. traders might just go with the hype and get as much as they can.

The coin is banned by the US, Venezuela is not the the example of a country whose currency others should value and there've been many confusions related to this coin. It's not listed on coinmarketcap, so it doesn't exist for me. Creating a cryptocurrency when fiat is doomed sounds like a smart idea, but it should be thoroughly planned in advance, rather than chaotically announced on TV. I wouldn't want to do anything with this crypto, but if it somehow helps Venezuelan people, I am happy for it, because the index of misery is the highest there.

[Asmh85]

Just as you stated that this coin issued because of the inflation of Venezuelan economy,  it's weird why people may be interested in Petro coins  While it's backed by the government.

[seyola89]

New cryptocurrency the “Petro”

The new cryptocurrency called the Petro it’s backed from the Venezuelan state as a response against the dollar and the sanctions imposed by the United States , it’s ranked 3030 on coinraking.com with a  worth of  0$ but the Venezuelan government says it worths at least 60 $. What do you guys think? Are you willing to trade this new cryptocurrency just like bitcoin?..  

No airdrops…


for More information  visit  https://en.wikipedia.org/wiki/Petro_(cryptocurrency)

Is he in the govt a market wizard that they can be sure that the worth is up to $60 even though it's worthless presently. If they can accurately predict the price, it means it can be highly manipulated and not safe for investment.

[dicaprio]

I am sure that today Petro is a perspective and a landmark for many people, despite the fact that people write here, the most important thing is that they decided to try to do it because the fiat system in the country is just awful.

[waterman]

I think one of the reasons Venezuela's goverment launched the petro was because they saw a huge potential in the world of cryptocurrencies. The government saw how their citizen were trading billions with bitcoins and saw a potential solution for the economic crisis, as the Bitcoins can be traded with no restrictions or bans(Venezuela have economic sanctions and bans)... The solution was to make their own "Bitcoin" but the reality is another one. It is weird how can a cryptocurrency that it's backed with the biggest reserves of oil worths nothing and another ones that are backed only by trust can worth a lot of money